India's outsourcing mkt soars

While globally, IT firms witnessed an overall drop in new outsourcing contracts in 2006, Indian companies -- such as Infosys, TCS and Wipro bucked the trend with a sharp jump of over 14 times in their market share in the past four years, a new study shows. In contrast to the massive gains registered by Indian service providers, the market share of 'Big Six' global outsourcing majors -- Accenture, IBM, HP, ACS, CSC and EDS declined to 46 per cent last year, from 71 per cent in 2002. The market share of India-based providers rose to 7 per cent last year, from less than 0.5 per cent in 2002. According to a new study by outsourcing advisory firm TPI, there are tougher times ahead for the global IT majors as they face intensifying competition from new market players.